IIS7 - The Underappreciated Jewel of Longhorn Server
http://www.eweek.com/article2/0,1895,1988880,00.asp
eWeek has an article about IIS7. Its interesting to read other people's thoughts on IIS7. Honestly, I haven't worked with apache in a really long time, so I don't have a feel for how it works, but everything that I have read is that IIS7 follows the design of Apache is the ability of IIS7 to only load what is necessary.